But Progress Is Made On One Obstacle

December 03, 1998|By MIKE SWIFT; Courant Staff Writer

An old horseshoe nail factory in Hartford could become the headquarters of Connecticut Natural Gas Corp., following a series of real estate transactions that could help clear land for a stadium for the New England Patriots.

A CNG executive confirmed Wednesday that the company is considering the old Capewell Horsenails factory as its new administrative offices, allowing the gas company to move from its current headquarters at 100 Columbus Blvd.

The current CNG headquarters occupies part of the site of a proposed $375 million state-financed stadium for the Patriots. Another obstacle to the stadium, a steam plant owned by CNG's parent company, CTG Resources Inc., would not be a candidate to relocate to the Capewell complex.

The Capewell factory is one of the three sites under consideration for CNG's new administrative headquarters, all of them in Hartford, said Lynn Blackwell, a CNG spokeswoman.

``That's one of the sites that's at the top of the list,'' Blackwell said. She declined to name the other two sites.

The old Capewell complex was purchased for $1.6 million as part of a complicated series of land transactions recorded Tuesday in Hartford City Hall.

The players included the Adriaen's Landing Management Co., a unit of the Phoenix Home Life Mutual Insurance Co., and CMD Ventures Inc., a limited liability company headed by two well-connected businessmen -- former state Senate Majority Leader William A. DiBella and his longtime business partner, Anthony D. Autorino.

CMD took title to the 6-acre factory complex, simultaneously granting Adriaen's Landing Management Co. the option to buy the property until April 15. Neither side would disclose the purchase price under that option.

The Phoenix subsidiary helped finance CMD's purchase with a $725,000 mortgage, which CMD Ventures must repay at 6.5 percent interest.

The transaction is part of Phoenix's overall plans for the $1 billion Adriaen's Landing project, which would include a state-financed convention center, the stadium for the Patriots and a 9.6-acre entertainment and retail complex on Hartford's riverfront.

``We want to ensure the [Capewell] property is available if it's needed for the future development of Adriaen's Landing,'' said Jon Sandberg, a Phoenix spokesman, who declined to be more specific.

CMD Ventures obtained its option to buy the stately brick Capewell factory at Charter Oak Avenue and Popieluszko Court in May, just days after Hartford Mayor Michael P. Peters' office requested that the boundaries be changed for a state downtown development district to include the complex.

CMD originally proposed 100 upscale, loft-style apartments in the old factory complex.

Autorino said this week's real estate transactions were done in hopes of helping the gas company relocate. But he said the housing project could still go forward if the Patriots project or Adriaen's Landing fall through.

``We will take a measured period of time to look at what is the best use of the property, A, and for Adriaen's Landing and for all of downtown Hartford, B,'' said Autorino, chairman and chief executive officer of Wethersfield-based Shared Technologies Cellular. ``If we can make those two come together, everybody will be happy.''

Autorino said he could understand that ``doubting Thomases'' might think he and DiBella were hoping to capitalize on rising real estate values as a result of the Patriots stadium project. That is not the case, he said.

``If, in fact, that was our strategy, why . . . would we ever give an option [to Phoenix to buy the property]? It doesn't make sense,'' Autorino said. ``We really, sincerely want to be part of the development of Hartford.''

Blackwell, the gas company spokeswoman, said CNG would not demolish the old factory complex if it relocates to the Capewell site.

She could not say when CNG would decide on relocations.

``One of the things CNG is doing is, we're working to stay within the city,'' Blackwell said.